Property players reel from sudden cooling measures
Many in the real estate industry were shocked by the sudden announcement yesterday of new property cooling measures that will take effect today. Developers were scrambling to launch new projects last night ahead of the measures taking effect, even as property buyers and sellers tried to understand the implications for their loans and purchases.https://www.straitstimes.com/business/property/property-players-reel-from-sudden-measures

NTUC Foodfare latest tenant to exit Kallang Wave
One of the biggest tenants at Kallang Wave Mall, NTUC Foodfare foodcourt, has packed up, raising questions over how businesses in the shopping centre beside the Sports Hub are faring. This comes after other major tenants such as fashion retailer Forever 21 and electronics chain store Harvey Norman also closed their outlets at the mall.https://www.straitstimes.com/singapore/ntuc-foodfare-latest-tenant-to-exit-kallang-wave

VIEWS, REVIEWS, FORUM & Others

Property curbs: Ahead of the curve but too much?
The government has deemed it fit to curb the steep rise in private home prices in recent quarters with a surprise tightening of cooling measures on Thursday. The tough measures shocked many and also raised the pertinent question - why use a sledgehammer on a market that may be showing signs of finding its own equilibrium? With effect from July 6, the additional buyer's stamp duty (ABSD) will be raised by 5 percentage points for Singapore citizens and permanent residents buying a second, third or subsequent residential property, as well as foreigners buying any residential property.https://www.businesstimes.com.sg/real-estate/property-curbs-ahead-of-the-curve-but-too-much

Latest property cooling measures: en bloc sales will bear the brunt
The surprise latest property cooling measures will likely dampen the collective sales market but it has in fact been clear for a while that en bloc sales bear watching. A marked improvement in home buying sentiment last year depleted developers' residential land bank and led them to bid aggressively for sites both through collective sales and at state tenders. The higher land prices have contributed to developers launching projects at higher selling prices so far this year.https://www.businesstimes.com.sg/opinion/latest-property-cooling-measures-en-bloc-sales-will-bear-the-brunt

New housing curbs expected, but extent of measures ‘heavy-handed’: Analysts
Singapore: The new property cooling measures announced on Thursday (Jul 5) were not entirely unexpected given the recent euphoria in the housing market, but the speed and timing at which the measures were introduced as well as the extent of the curbs were “heavy-handed”, some analysts told Channel NewsAsia. Among the curbs are a 5 percentage point hike in Additional Buyer Stamp Duty (ABSD) rates for citizens and permanent residents (PRs) buying second and subsequent homes, as well as a 5 percentage point tightening for loan-to-value limits for all housing loans granted by financial institutions .https://www.channelnewsasia.com/news/singapore/housing-curbs-absd-ltv-expected-but-heavy-handed-analysts-10503276

With the world ‘moving a little closer’ to a trade war, what’s the impact on Singapore?
Singapore: As trade friction between the United States and China heats up with mutually-threatened tariffs kicking in on Friday (Jul 6), the world seems to be “moving a little closer” to an all-out trade war – a scenario that will weigh on Singapore’s economy, economists said. While united in the view that a global trade war, if it happens, will have an impact on Singapore’s gross domestic product (GDP), experts differed on the extent of the damage.https://www.channelnewsasia.com/news/singapore/with-the-world-moving-a-little-closer-to-a-trade-war-what-s-the-10501706

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DisclaimerReal Estate Developers' Association of Singapore does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by Real Estate Developers' Association of Singapore. Every effort is taken to ensure that all information extracted is correct at the time of dissemination 06 Jul, 2018.